It doesn't matter what situation, Velocity Banking can help!

[@yorkiem0m]

I think this is so much better than Ramsey

[@dewaynetodalen4491]

Ramsey would have you eating dirt to get out of debt. Christy get's the human side of getting out of debt and it works!

[@rebdyck]

I've got a low income and just started this way of banking a few weeks ago, thanks to you. I figure under two years I can get my LOC paid off then use it for my CC balance that is also very high. Why didn't I know about this sooner? Nobody talks about this, it seems. Great videos!

[@annmcb]

KZbin is full of this info; I started VB in 2020. Blessings on your VB journey!

[@colinm1325]

Hey Rebecca, now you do, you can pass it around, hey!😊😊😊😊😊😊

[@sharronbush886]

Remember you don't have to wait until your LOC is paid off. As you pay it down when you have a couple thousand or so you can move something (credit card ) over. Even if it's not enough to pull the entire balance over whatever you pull over will make that minimum payment lower which adds to your cash flow. Keep in mind to keep enough available credit on something for emergencies.

[@sharronbush886]

I meant when you have a couple thousand or so available on your LOC.

[@shaquetaashmore4697]

I called today about getting a HELOC and though the gentleman was nice and respectful, not pushy, he did try to offer me a HELOAN instead. I said...NO...NO...NO...NO...We don't do loans!!!😂😂😂 Thanks so much for sharing your knowledge.

[@LovingAtlanta]

👍🙏💝Thank you. I didn’t know what I was doing, but somehow I started doing this last year and started seeing positive results. I stumbled on your channel the other day and now it all makes sense. Thank you. 🙏💝

[@catherinequigley569]

One thing i figured out was to put all monthly bills, like utilities, phone, cable, and stuff like that on autopay. I was use to paying all mine on the 3rd, because i get SS Disability, and it was costing me more in interest because they start charging the day you do the transaction. Some of my bills aren't due until like the 24th so i was paying interest for 21 days and i didn't need to 🤨

[@Bamapride1985]

Exactly. Pay the credit card as soon as money hits the bank account but wait until the actual due dates on the bills to come out of the credit card. That is the benefit of doing this method is that the lower daily balance lowers the principle that interest is calculated on, lowering the monthly interest.

[@catherinequigley569]

@@Bamapride1985 yeah, i paid everything my first month doing this then i was like 🤦

[@toniasmith4472]

Thanks For being real and sharing your gift

[@kennycharles6041]

A perfect example of how to use velocity banking even if you have low or no current cash flow!

[@santosme2398]

What is a velocity bank? 😊

[@kennycharles6041]

@@santosme2398 There is no such thing as a velocity bank. It is not a place or a building. It is a concept using debt instruments such as a HELOC, PELOC, or a credit card to speed up (velocity ) the process of getting out of debt! Watch more of Vanntastic’s videos or ask me and I can help you get started!

[@ronnie8317]

I think I watched one of your live brainstorming videos about 15 times till I could mimic what you where doing and using it now, 5 credit cards and a PLOC. It took lotsa times of your explaining to get outta my pre programmed habits of paying bills. $770 worth of credit card bills per month had me "spinning my tires in place". I was talking to a debt relief company, not paying my credit card bills for months and complete destruction of my credit, which is good except high usage, I remembered your methods and dropped them like a hot potato. The guy told me "Your not going to use your credit anytime soon so..." Like he knows what im going to do...oh i need a new roof on my house... meh. Thank God you are here.

[@sharronbush886]

Velocity Banking works! Hubby and i are making great progress! Only been doing it for about 3 mos. Thank you so much Christy! Thank you, thank you THANK YOU!

[@DoctorMcFarlandStudios]

The cashback on the credit card will bring added value to pay off the debt as well. If you are going to spend the money anyways you might as well. Being frugal is not bad but it is a good idea to look at your spending see where you are overpaying when you don't really need to. Ive done this myself and have lowered my insurance bills etc.

[@IrishScott71]

Yes! 1990, I remember it well. I was 19 as well

[@zetsumei1017]

I was 3. You're welcome

[@Bamapride1985]

If the $360 payment is in her expenses column, then that $360 becomes extra cash flow toward the card along with the $50 CF. She is basically gonna be having $410 CF paying down the card by utilizing this method minus the added to interest ($180).

[@jw6180]

I need to watch this on REPEAT until I wrap my mind around it. 🌟🙏🏻

[@kenjenkins7183]

This particular one was not the best example. Check out some of her other videos and the bell will go off. It's amazing how great this method can be. For other references on the subject check out Denzel Rodriguez, Sam Kwak and replace your mortgage. ​@@jw6180

[@marilynciccone]

That's what I was thinking too because as she's said a zillion times before "when you put your income in, that satisfies the payment and becomes cash flow". When she said add in the 360 payment I was thinking, wait... what? Does it only work like that for LOC's? Need some clarification here.

[@robertbennett766]

I understand the concept but I don't know what I missed. When I subtract all of the expenses including the credit card payment from the income I get that she has $360 of cash flow. When I add up everything on the screen it doesn't add up to $2950 in expenses. I love your videos so keep up the amazing work. May God continue to bless you.

[@quingofcozycastle]

Another great video---thanks, Christy!!

[@tereseawalker4516]

I can relate, because I am living thru this nitemare now....

[@rettpanda6203]

I do have a question for Vann...once this woman get free of credit card debt, how would you guide her to use her paychecks in the future? Should she cash flow or still use the CC as a 30 day cash advance?

[@dejaerules]

"i thought it was fun handling cash, but i've just got a life and more things to do." 🤣🤣🤣

[@waterandafter]

This all makes sense. But now that im out of debt how do I use my cash flow to make my money make money?

[@lightlightlight]

I wish I could show you my specific situation and get your advice ! Been following you and definitely trying to incorporate this approach. So far it has actually been a game changer get but I have some uncertainty as to a few different ways I could be doing this and wonder which you would suggest. The only thing is that the way I have it set up seems a little complicated and wonder how you would streamline it best

[@momccarter1691]

😊 I can relate

[@MzLisaD11]

I need HELP! I don’t want to let my cc go into default, but I feel overwhelmed. 😩😩

[@louvonianashay5164]

She has a Playlist on paying off credit card debt. Most of the videos are around 10mins

[@youtubefun101]

Great video. I just sent it to a friend. I told her about your strategy. I have a question that I would appreciate hearing your thoughts on. My husband and I are not in debt except for our mortgage which is under a thousand a month. We have 25 years to pay it off and our interest rate is about 4%. We are retired and basically living on social security and we have a little bit of savings. But our cash flow after household expenses is only a few hundred dollars. Is there anyway to pay off a mortgage balance of 110k at our ages, late 60's, how could we do that, how long would it take, is it worth it. Thanks for any help. I've learned so much from watching your channel but just am not sure what to do about our mortgage. I don't want to have less money to be able to spend a little and do some fun things, but if we could pay off our mortgage and still have a little money for fun that would be great.

[@diablodemers7923]

Keep that 4% helocs have an adjustable rate and you don't want to risk your home.

[@tiffanyaustin577]

Christy thank you for all you do ❤can you explain the details of using the HELOC as a sweep account I can’t seem to wrap my mind around it

[@mypicturestories]

Can you use 2- cc for expenses If say each limit Is $1000? Havent finished video yet, you've got me & my husband excited. Im assuming you can. Whew, here we go.😂

[@LukeNetzel]

Hey Christi, can you do a video on velocity banking with no debt other than a mortgage and no cash flow? It it possible to do velocity banking?

[@jax65h94]

I have a couple home rehabilitation loans that have a 3% simple interest rate. I have not had the cash flow to pay these down. The interest has now stopped accumulating as it has reached one half of the original loan amount. If and/or when I sell my house the loans will need to be paid off. Is it a good idea to start paying these off now or use my money to invest? I am at a better place financially now and could begin making payments.

[@lilianalorck5266]

Yes and we never had extra at all. It was crazy!

[@Anna-ou5jv]

3:15 Can someone please explain why you should not pay the credit card in a large chunk when you get your paycheck? She said the credit card might put limits? I thought paying credit card multiple times per month was worse.

[@Anna-ou5jv]

@Jesus-kt5dc oh, I did not know that! Thank you for the reply and explanation!!

[@valeriapappas-brown9388]

In Maryland we can not put our car insurance on a credit card, what states allow this?

[@taniaantoon6081]

I'm confused I added the expenses but they don't total 2950.00

[@michaelpoindexter3599]

Did the $2950 in expenses not already include the $360 cc payment? Not sure why you included that with the income and cash flow as going into the credit card. Doesn’t your income being put into the credit card represent the CC payment?

[@waterandafter]

Does this work on student loans?

[@ronnie8317]

I think she would say...use a PLOC to pay the loan off and use her strategy to pay off the PLOC. I think thats what she would say

[@catherinequigley569]

If you have 2 CC that you could use, would you use the one with the lowest interest rate or the one with highest balance ?

[@catherinequigley569]

@Jesus-kt5dc thank you !

[@truckn]

Where is the Automated system Ms. Vann spoke about at 7:19 ?

[@VanntasticFinances]

Register here to join us Tuesday at 8pm est for a short information webinar… moneymaxguy.com/webinar-reg1a

[@idalmycastro8792]

Christy this person have 8000 credit card to use or have to pay 8000. I confuse because the $360 you use just one time. Where I get lost?? Thanks. 😅

[@karlmorris5827]

Hey Christy If her income is $3000 a month and her rent is $1460 a month would that be less income going to the credit card every month ?????

[@shannonroberts7242]

I can see how this would work. However, I think that when you leave out certain information like, If the $8000 credit balance included the expenses from the prior month before starting the plan you set up. Then it would make sense to use your income to pay for those expenses that were put on the credit card. I do have a question though. What expense cost $310? If you add up all the expenses shown here in the video it comes to $2,640 included CC payment. Which leaves $310 to account for a total of $2950. You probably won't but could you explain how you came up with $2950? I do understand the concept but not understanding where the missing $310 is. Thanks :)

[@ginamoody56]

Call me stupid but I want to ask if a line of credit is the same as having a credit card with a credit limit of x amount?

[@sharellealaimo2000]

What do you do if you have several credit cards that are maxed out?

[@mdot1353]

I would say pick the one with the highest interest, do this method and pay the other minimums in cash like how in this example the person did with her rent. Once it's paid off move on to the next highest interest card OR choose the card with the lowest maxed balance if u need to see progress quicker for motivation. It will take time but should still work.

[@lonewolfcabin304]

I understand everything but the interest part. Can you explain how you came up with 186?

[@sofondadavis5028]

You don't have to figure it. The bank will calculate the interest. She shows it so that you are aware of it and some what where it comes from.

[@robertbennett766]

🤦🏾‍♂️ Ok. I am a butthead…lol! Thank you!

[@lydiasalinas5106]

I love it, you can ruin your own credit without paying someone to do it

[@helenstewart2917]

What credit card s can be used as ploc

[@she-ra0622]

All of them. Preferably high limits with 0%

[@sandracarrizales842]

Called a local bank they don't do Line of Credit to pay Mortgage.

[@VanntasticFinances]

@sandracarrizales842 You should watch more videos. You will learn that you NEVER ask a bank for a LOC to pay onto a mortgage. Of course, they're going to say no.

[@bernitacunningham3738]

Do you do personal sessions?

[@VanntasticFinances]

Yes, links to reach me in description of video.

[@reneeneal5357]

What if the majority of your bills are credit cards this wont work

[@fitforever22]

Transfer it to one if you can.

[@mariaisabelescamilla2313]

With a 680 credit score you can get a ploc at a credit union . Then consolidate your credit card payments using the ploc and deposit your income into the ploc going forward. You can still use the credit card once you paid it off with the ploc. Hope this helps 😊

[@memasabeeelang]

❤

[@joee5081]

What if you already are paying everything on credit cards with only $50.00 left for the month. No chance to get a loan or line of credit (HLOC or PLOC) and cards almost all maxed out. I believe there is a point where the only solution is to just file bankruptcy and start over. A big decision and also once you do can't do it again for 8 years for chapter 7 but it is out there for people who have no other options so they can get a fresh start. I don't see how Velocity Banking can help in that scenario. Before anyone gets angry I am not saying Velocity Banking doesn't work as it is shown it can in your many examples just saying there is at least one situation where it absolutely cannot work. Of course you could find another source of additional income like a second job or side hustle etc., but just keeping this situation in relation to Velocity Banking. I do like they you are helping so many people in bad debt situations and well 224K subscribers shows that it works.

[@jiangli6498]

The US government could surely do with velocity banking to pay off its debt to the Federal Reserve. Think what difference it would make in the lives of people! As always, great content ma'am.

[@jiangli6498]

My humor can sometimes be a little too dry, and come off as serious. It would be funny if the American government could take a "Line of Credit" from the federal reserve like a human being could from the bank.

[@powderbeast5598]

✨🔥✨.

[@amberbeans]

💜💜💜💜💜💜

[@barbaracarbone4658]

Christy, why are you calling the expenses of $820 her income? Her income is $3000.

[@barbaracarbone4658]

@Jesus-kt5dc Thanks and yes I understand that. The Velocity philosophy is always to put "income in" and "expenses out". Even with credit cards.

[@WeAreNotGoingBackEver]

Using this same scenario, what if your CC is at or close to the limit? Should you add interest to your list of payments? Hope that makes sense.

[@she-ra0622]

Yes! Know your closing date so you know exactly when the interest is added your account.

[@mattthompson4295]

The principle is to pay down principle on highest interest debt with the cash flow. Put this in a spreadsheet. The outcome is as good or better than with high velocity banking, all other things being equal. Yet, high velocity banking is so much more difficult to implement. Hopefully this snake oil drops out of my feed.

[@powderbeast5598]

✨👍✨🌞.

[@Joseph-pq7id]

I married my wife at 19 years old 😂

[@kbotics9589]

And if you throw tax returns into it it’ll be paid off faster 👌

[@Podcastextras]

Cancel the subscriptions

[@chaoticspaz]

You're smokin, no info. Must be watching a Netflix special

[@Podcastextras]

@@chaoticspaz what?

[@ateisme3752]

Is it not a mistake on the first, 820 is an expense, with the new draws to the creditcard, so this would add time to pay off.

[@danaelliott2697]

Christy how can I set up an email or a phone call appt with you, so I can see if you can help me find a way to fix my current situation? I am in a pending divorce that I don't want, but in order to keep my name on the deed and do a quit claim deed for my spouse as agreed in mediation I have to pay my spouse $35,000. I have 36 months to pay my spouse the $35,000 but the only way to get the $35,000 is to refinance our house against the equity. The payoff on the house right now is $76,000. I have a car loan of a little over $29.000. I work 2 full time jobs. Please help!